The main market of the Jamaica Stock Exchange shot up more than 3,300 points in the morning session to an intraday high on with all Jamaica Composite index up by 3,327.59 points to a new record, at 10:45 AM the index hit 265,287.63 points. The market failed to hold on to such heady gains and fell back later to end at a record close.
At the close of the market the All Jamaica Composite Index advanced 1,511.90 points to record close of 263,471.94, the JSE Market Index gained 1,377.52 points to finish at record closing high of 240,052.78 and the JSE US dollar market index rose 0.45 points to close at 218.77.
Trading ended with 29 securities changing hands including 2 trading in the US dollar market. At the close, 10 stocks advanced and 7 declined.
Trading levels in the main market ended at 115,967,557 units valued at $1,350,559,147 compared to 4,670,861 units valued at $78,264,470 at the close on Monday. Trading in the US dollar market accounted for 19,645 units valued at US$5,789.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 4,295,095 units valued at an average of $50,020,709 compared to an average of 166,816 units with an average value of $2,795,160 on Monday. The average volume for the month to date ended at 538,261 units carrying an average value of $7,554,509 versus 196,730 units an average value $3,693,945 on the prior trading day. The average volume and value for April ended at 382,748 units and $5,254,387.
In market activity, Barita Investments traded 100,000 shares at $7, Berger Paints gained $3.58 to close at a record high of $23.60, with trades of 12,300 shares, Cable and Wireless closed at $1.40, with 381,200 shares changing hands. Carreras added 5 cents to close at $82 after hitting a new intraday high of $84 while exchanging 64,795 shares, Grace Kennedy closed at $42.40, with a loss of 10 cents trading 35,814 units, Jamaica Broilers closed at a record high of $20, gaining $2, trading 49,022 shares, Jamaica Producers closed 40 cents higher at $16.40, with 226,826 shares changing ownership, Jamaica Stock Exchange lost 45 cents to close at $7.05 trading 12,285 shares. JMMB Group lost 50 cents to close at $21, after trading of 27,952 units, Kingston Wharves traded 91 cents higher to close at $31.01, with an exchange of 12,000 units, Mayberry Investments closed at $4.75, with 157,731 shares trading, NCB Financial Group closed at $71.99, after trading 36,196 shares, 1834 Investments lost 1 cent to close at $1.84, with an exchange of 242,270 shares, 138 Student Living closed at $4.49 trading 3,107 shares, PanJam Investment added 5 cents to close at $35.55, with trades of 16,955 shares. Pulse Investments closed at $14, with gains of $1.50 exchanging 11,780 shares, Radio Jamaica closed at $1.70, gaining 5 cents trading 27,400 shares, Sagicor Group traded 90 cents lower to close at $33, with trades of 953,208 shares, Sagicor Real Estate fund closed at $11.19, with gains of 19 cents exchanging 112,260,515 units, Scotia Group was down $2 to close at $42, with 987,439 units changing hands, Scotia Investments closed at $37.85, trading 200 shares, Seprod traded 3,300 shares at $35, Sterling Investments closed at $16.90 with an exchange of 22,584 shares, Supreme Ventures jumped 65 cents and closed at a record high of $7.50 exchanging 25,353 shares. Proven Investments 8.25% preference share gained 3 cents to close at $5.20 with trades of 19,200 units, Margaritaville Turks closed at 34 US cents with 1,845 units traded, Proven Investments closed at 29 US cents trading 17,800 ordinary shares, JMMB 7.5% preference share closed at $1.82, losing 8 cents with an exchange of 178,125 units and JMMB Group 7.5% preference share closed at $1.10, with 100,000 units changing hands, Proven Investments preference share jumped $1 to hit a 52 weeks high of $6.17 while trading 34,200 shares.
Progress for 138 Student Living
Student living housing provider, 138 Student Living reported progress in their half year results to March, with net profits of $27M, which represented an over 200 percent improvement compared to the previous year.
For the quarter to March, 138 reports profit of $15.8 million compared to a loss of $9.6 million for the same period in 2016.
Revenues rose to $147 million for the quarter up from $77 million in 2016 and $262 million for the six months versus $124 in 2016.
“Although our net results showed a significant improvement over the corresponding period last year, we have to take note of the fact that an additional 576 rooms (864 beds) were brought into operations on a phased basis during the year which accounted for the increased Revenue. However, as a result of being less than 100% occupied in the additional four blocks, our net profit was less than optimum,” John Lee Chairman of the company reported.
Lee went on to state,“ with the introduction of the four additional blocks, we, as expected, experienced an increase in operational expenses such as staffing and utilities in addition to financing costs.’
Earnings per share came out at 4 cents for the quarter and 6 cents for the half year.
JSE majors slipped slightly on Monday
Trading in the main market of the Jamaica Stock Exchange closed on Monday with 26 securities changing hands with 1 trading in the US dollar market. At the close, 10 stocks advanced and 8 declined with the main market ending in 2,884,030 units valued at $64,356,186 trading compared to 4,838,789 units valued at $105,278,278 at the close on Wednesday.
Trading in the US dollar market accounted for only 1,502 units valued at US$450. The All Jamaica Composite Index declined 144.74 points to close at 257,591.70, the JSE Market Index fell 131.87 points to finish at 234,695.22 and the JSE US dollar market index closed unchanged at 218.99 points.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 9 stocks with bids higher than their last selling prices and 1 with a lower offer.
The main market ended trading with an average of 110,924 units valued at $2,475,238 per security traded, compared to an average of 256,060 units valued at $2,718,995 on Friday. The average volume for the month to date ended at 188,647 units with an average value of $3,859,708 versus 204,192 units with an average value of $4,136,602 on the prior trading day. The average volume and value for April ended at 382,748 units with an average value of $5,254,387.
In market activity, Berger Paints lost 5 cents to close at $16.85, in trading of 17,380 shares, Cable and Wireless closed at $1.34, with 353,181 shares changing hands, Caribbean Cement traded $1 higher to close at $29 with an exchange of 13,220 units, Carreras closed at $77 exchanging 57,323 shares, Grace Kennedy closed at $42.50, after gaining 25 cents and trading 800,378 units. Jamaica Broilers closed at $17.50, with gains of 50 cents trading 64,249 shares, Jamaica Producers closed $1 lower to $17.60 exchanging 223,675 shares and Jamaica Stock Exchange closed at $7.75, with a loss of 25 cents, trading 12,138 shares, JMMB Group closed at $21.25, losing 25 cents with trades of 11,790 units, Kingston Wharves traded 90 cents lower to close at $30, with 11,511 shares changing hands. Mayberry Investments gained 5 cents to close at $4.55 with an exchange of 78,234 shares, NCB Financial Group closed at $71, after exchanging 143,410 shares, 1834 Investments gained 6 cents to close at $1.50, trading 4,300 shares, 138 Student Living traded 100 units at $4.50, PanJam Investment closed 19 cents higher to $35.20, in exchanging 7,317 shares, Portland JSX Fund closed at $10.60 trading 800 units. Pulse Investments closed trading at $9.10 in gaining $1.05 with 113,536 shares swapping owners, Radio Jamaica gained 2 cents and closed at $1.67, with 43,300 shares, Sagicor Group closed at $33.50, to record a gain of 45 cents in trading 29,153 shares, Sagicor Real Estate Fund gained 5 cents to close at $10.35 while exchanging 8,200 units, coffee processors, Salada Foods traded 2,700 units at $8, Scotia Group closed 50 cents lower at $43, with 29,579 units changing hands, Seprod shed $3.50 to close at $36, trading 15,860 shares Sterling Investments lost 1 cent to close at $17 with an exchange of 500 units, Supreme Ventures closed at $6.38, with trades of 678,489 shares and Proven Investments exchanged 1,502 ordinary shares at 30 US cents.
Upper hand for falling stocks on Tuesday
Declining stocks had the upper hand in trading in the main market of the Jamaica Stock Exchange at the close on Tuesday with 27 securities changing hands with 1 trading in the US dollar market. The markets closed with 7 stocks advancing and 12 declining.
Trading levels in main market ended at 4,459,136 units valued at $97,369,402 compared to 1,824,130 units valued at $21,197,848 at the close on Thursday, ahead of the Easter holiday break. Trading in the US dollar market accounted for 56,525 units valued at US$16,658.
The All Jamaica Composite Index advanced 378.10 points to close at 248,706.47 the JSE Market Index gained 344.49 points to finish at 226,599.78 and the JSE US dollar market index lost 8.42 points to close at 215.62.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 11 stocks with bids higher than their last selling prices and none closed with a lower offer.
The main market ended trading with an average of 340,219 units valued at $3,606,274 per security traded compared to an average of 82,915 units at an average value of $963,539 on Thursday. The average volume for the month to date ended at 534,102 units with an average value of $5,367,204 versus 555,645 units valued at $5,562,862 per security traded on the prior trading day. The average volume and value for March ended at 549,909 units and $1,379,459.
In market activity, Barita Investments gained 10 cents to close at $7, with 59,000 shares changing hands, Berger Paints closed at $14 with trades of 5,100 shares, Cable and Wireless closed at $1.30 with an exchange of 434,033 shares, Caribbean Cement closed $2 lower at $30 with 86,694 units changing hands. Carreras closed at $74, gaining $1 exchanging 4,308 shares, Grace Kennedy closed at $42.80, with a loss of $1.20 trading 23,192 units, Jamaica Broilers gained 10 cents to close at $17 with 31,773 shares changing hands, Jamaica Producers closed at $15, with a loss of 50 cents exchanging 100,177 shares, Jamaica Stock Exchange closed 95 cents lower at $7, with a sale of 939,133 shares. JMMB Group closed 25 cents higher at $18.65, trading of 39,681 units, Kingston Properties traded at $15.95 with 200 shares changing hands, Kingston Wharves closed $1 lower to $30 trading 38,797 units, NCB Financial Group traded at a new intraday high of $75 but failed to hold on to the gain at the end of trading to end with 38,440 shares trading at $65, 1834 Investments gained 2 cents to close at $1.50, trading 10,000 shares, 138 Student Living closed at $4.49 with 63,500 units traded, PanJam Investment closed at $34.66, after losing 34 cents with 39,662 shares changing hands. Pulse Investments traded 4,900 units at $8,Radio Jamaica lost 15 cents to close at $1.60, with an exchange of 52,330 shares, Sagicor Group closed at $33.05, gaining 3 cents with an exchange of 2,253,648 shares, Sagicor Real Estate Fund closed at $10.05, with a loss of 5 cents and 7,200 shares traded, Scotia Group jumped $2.75 to $41.50, with an exchange of 43,366 units, Seprod lost $4 to close at $35, trading 4,532 shares, Supreme Ventures closed at $6.38, with 78,390 shares changing hands. Proven Investments closed at 30 US cents, losing 1 US cent exchanging 56,625 ordinary shares, Jamaica Money Market 7.25% preference share lost 9 cents, closing at $2.41 with 500 units changing owners, Jamaica Money Market 7.5% preference share traded 100,000 units at $1.81, having lost 19 cents, JMMB Group 7.25% preference share closed at $1.50 with 430 units traded and JMMB Group 7.5% preference share traded 150 units at $1.10.
Sagicor’s big 11M share trade on Monday
Trading ended with 12 stocks advancing and 8 declining in the main market as 13,790,971 units valued at $428,274,635 traded in the main market compared to 9,512,849 units valued at $220,101,365 at the close on Friday. Trading in the US dollar market accounted for 3,670 units valued at US$1,100.
The All Jamaica Composite Index declined 1,432.85 points to close at 246,900.84, the JSE Market Index lost 1,305.49 points to finish at 224,954.64 and the JSE US dollar market index gained 1.72 points to close at 218.68.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 12 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 599,607 units valued at $18,620,636 for each security traded compared to an average of 413,602 units valued at $9,170,890 per security. The average volume for the month to date ended at 794,485 units valued at $18,495,857 per security, versus 833,460 units and $5,623,143 on the prior trading day. The average volume and value for March ended at 549,909 units and $1,379,459.
In market activity, Berger Paints closed at $12.30, gaining 25 cents with trades of 4,243 shares, Cable and Wireless closed at $1.30, with gains of 2 cents while exchanging 64,088 shares, Caribbean Cement added $1.10 to close at $31.60 trading 24,639 units. Carreras closed at $74 with 30,000 shares changing hands, Grace Kennedy tumbled $3.70 to close at $41, with 1,070,424 units traded, Jamaica Broilers added 4 cents to close at $16.54 with trades of 17,574 shares, Jamaica Producers closed 50 cents lower to $14.50, with an exchange of 5,900 shares, Jamaica Stock Exchange gained 75 cents to close at $7.95, with 37,105 shares changing hands. JMMB Group closed 10 cents higher to $18.65 trading 18,470 units, Kingston Properties gained 3 cents to close at $15.98 with 4,000 shares changing hands, Kingston Wharves closed at $32, after falling 36 cents with an exchange of 19,903 units, Mayberry Investments closed at $4.80 with a 10 cents gain trading 41,016 shares, NCB Financial Group closed at $62.40, after exchanging 15,500 shares, 1834 Investments traded 2,874 units at $1.54, while 138 Student Living traded 30,700 units at $4.46, having lost 3 cents, Pan Jamaican closed 60 cents higher at $35.60 with 5,241 shares changing owners. Pulse Investments traded 2,000 units at $8, Sagicor Group closed with gains of 51 cents to $33.51, exchanging 11,135,988 shares, Sagicor Real Estate Fund lost 46 cents to close at $10.05, with 695 shares traded, Scotia Group dropped $1.40 and closed at $38.60, trading 10,154 units, Seprod fell $3.70 to close at $36, while trading 5,400 shares, Supreme Ventures closed at $6.38, gaining 3 cents with trades of 360,757 shares. Proven Investments lost 1 US cent to close at 29 US cents with trades of 3,670 ordinary shares and JMMB Group 7.5% preference share gained 5 cents to close at $1.10, with an exchange of 884,000 units.